§ 36-12-15.5 — Income tax credit audits.

Utah § 36-12-15.5

• Jurisdiction: Utah
• Title 36: Legislature
• Ch. 36-12: Legislative Organization

Text

(1) As used in this section:
(1)(a) "Committee" means the Revenue and Taxation Interim Committee.
(1)(b) "Income tax credit" means a state tax credit described in Title 59, Chapter 7, Corporate Franchise and Income Taxes, or Title 59, Chapter 10, Individual Income Tax Act.
(1)(c) "Office" means the Office of the Legislative Auditor General.
(2) In addition to other audits performed by the office, the office shall conduct, in accordance with this section and under the direction of the Legislative Audit Subcommittee, a comprehensive performance audit of the income tax credits.
(3) (3)(a) On or before August 31 of each year, the committee may refer a list of income tax credits to the office that the committee recommends for audit.
(3)(b) The list may include an order in which the committee prefers the office to conduct the income tax credit audit.
(4) If the committee does not refer a list of income tax credits, the office shall select which income tax credits to audit, considering the income tax credit's usage in terms of dollars and vulnerability to error or fraud.

Legislative History

Enacted by Chapter 292, 2025 General Session